RE/MAX Holdings, Inc. (NYSE:RMAX) Major Shareholder Purchases $16,700.00 in Stock

RE/MAX Holdings, Inc. (NYSE:RMAX) major shareholder Adam K. Peterson purchased 2,000 shares of RE/MAX stock in a transaction on Thursday, June 20th. The stock was bought at an average price of $8.35 per share, for a total transaction of $16,700.00. Following the completion of the acquisition, the insider now owns 3,086,472 shares in the company, valued at approximately $25,772,041.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

RE/MAX Price Performance

RE/MAX stock opened at $8.36 on Monday. RE/MAX Holdings, Inc. has a 1-year low of $6.94 and a 1-year high of $20.48. The firm has a market capitalization of $152.82 million, a P/E ratio of -2.12 and a beta of 1.36. The company’s 50-day moving average is $8.14 and its 200 day moving average is $9.35.

RE/MAX (NYSE:RMAX) last posted its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. RE/MAX had a negative net margin of 22.51% and a negative return on equity of 50.09%. The company had revenue of $78.29 million for the quarter, compared to analyst estimates of $78.14 million. Research analysts anticipate that RE/MAX Holdings, Inc. will post 0.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RMAX. Jonestrading reiterated a “hold” rating on shares of RE/MAX in a report on Friday, March 1st. Stephens reduced their price target on shares of RE/MAX from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, May 6th. StockNews.com downgraded shares of RE/MAX from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Morgan Stanley reduced their target price on shares of RE/MAX from $9.00 to $7.00 and set an “underweight” rating on the stock in a report on Wednesday, April 10th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of RE/MAX from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, RE/MAX has an average rating of “Hold” and a consensus target price of $11.60.

Institutional Trading of RE/MAX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Magnolia Group LLC grew its stake in RE/MAX by 1.8% in the 1st quarter. Magnolia Group LLC now owns 3,037,843 shares of the financial services provider’s stock worth $26,642,000 after acquiring an additional 54,000 shares in the last quarter. Vanguard Group Inc. grew its stake in RE/MAX by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 1,121,789 shares of the financial services provider’s stock worth $9,838,000 after acquiring an additional 94,758 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in RE/MAX by 46.2% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,057,780 shares of the financial services provider’s stock worth $14,100,000 after acquiring an additional 334,290 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in RE/MAX by 107.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 291,855 shares of the financial services provider’s stock worth $2,560,000 after acquiring an additional 151,036 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in RE/MAX by 17.2% in the 1st quarter. Russell Investments Group Ltd. now owns 227,103 shares of the financial services provider’s stock worth $1,992,000 after acquiring an additional 33,351 shares in the last quarter. 93.17% of the stock is owned by hedge funds and other institutional investors.

RE/MAX Company Profile

RE/MAX Holdings, Inc operates as a franchisor of real estate brokerage services in the United States, Canada, and internationally. It operates through Real Estate, Mortgage, and Marketing Funds segments. The company offers real estate brokerage franchising services under the RE/MAX brand; mortgage brokerage services to real estate brokers, real estate professionals, mortgage professionals, and other investors under the Motto Mortgage brand; and mortgage loan processing software and services under the wemlo brand.